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2 years ago

One key difference between an oligopoly market and a competitive market is that oligopolistic firms.

1 answer:

3 0

A difference between an oligopolistic and a competitive firm is each firm's profits depend on other firms actions in oligopolistic markets while they do not in competitive markets.

<h3>What is a competitive firm?</h3>

A perfect competition is a market where there are many buyers and sellers of identical goods and services. Buyers and sellers are price takers.

<h3>What is an oligopolistic firm?</h3>

An Oligopoly is when there are few large firms operating in an industry. A cartel is a type of oligopoly where two or more producers come together to regulate either the price of their good or the quantity of their goods that would be supplied.

Here are the options to the question:

a) each firm's profits depend on other firms actions in oligopolistic markets while they do not in competitive markets.

b) oligopotisfic firms sell completely unrelated products while competitive firms do not.

c) oligopolistic firms sell their product at a price equal to marginal cost while competitive firms do not.

d) oligopolistic firms are price takers while competitive firms are not.

To learn more about oligopolies, please check: brainly.com/question/26130879

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list 4 stages of development impacting the airline industry and briefly describe how each has impacted the future direction of t

PolarNik [594]

The 4 stages of development that impacted the Airline Industry are:-

1. <u>Regulation</u>: Strict government control of fares, routes, and entry into markets Regulation resulted from tight ownership control of fares, limited competition on chosen routes, a small market served, a low frequency of city connections, high fares, government bailouts for air carriers, and incentives to increase airline profitability

2. <u>Liberalization</u>: reducing governmental control, increasing bilateral agreements, expanding into new markets, diversifying into new goods, and specialising in specialised markets.

3. <u>Deregulation</u> results in less airfare, improved service, and no government regulation of the market.

4. <u>Re-regulation</u>: Prevent predatory pricing by regulating prices; prohibiting strikes under the Railway Labor Act; updating the air traffic control system to reduce delays; and encouraging development, consolidation, and concentration.

To Learn more about Airline Industry, Click the links.

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2 years ago

What do the income effect, the substitution effect, and diminishing marginal utility have in common?

Sveta_85 [38]

Answer:

They all help explain the downsloping demand curve

Explanation:

The options to the question wasn't provided. The complete question can be in the attached image.

The demand curve slopes downward from left to right. This indicates that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

Income effect is a change in quantity demanded when real income change. Quantity demanded increases when real income increases and decreases when real income falls.

Substitution effect says that consumers would substituite to the consumption of a cheaper good when the price of a good originally consumed increases.

Diminishing marginal utility states that as consumption increases, utility derived from consumption falls and quantity demanded falls.

I hope my answer helps you

3 0

3 years ago

Barney builds custom wooden birdhouses. he can make 150 birdhouses per month and sell them for $50 each. his average total cost

musickatia [10]

Answer:

125 birdhouses per month

Explanation:

Barney=150 birdhouses

Total product=150 birdhouses

If Barney hires Fred

Fred =125 birdhouses

Total product=150+125

=275 birdhouses

Marginal product can be defined as a change in output as a result of a change in variable inputs

It can be calculated as follows

Marginal product=change in total product/change in variable inputs

=275-150/1

=125/1

=125 birdhouses per month

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3 years ago

What are parts of wind turbine that capture wind energy

Natalka [10]

The turbine catches the winds energy by their propeller like blades that compresses and makes it go downward

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3 years ago

Read 2 more answers

Problem 3.15 page 37 Consider an economy with a flat rate tax system Each dollar of income over $5000 is taxed at 20 Income belo

kozerog [31]

Answer:

Standard deviation of Tc is 1600

Explanation:

See attached file

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3 years ago